European Commission proposal for the extension of the deduction right of passenger cars in Latvia.
The European Commission issued a proposal on the 31 of October 2018, concerning the right to deduct input VAT for passenger cars.
In relation to passenger cars, the current legislation states that Latvia is authorised to restrict the right of deduction to 50%. This legislation was expected to expire on 31 December 2018. Subsequently Latvia has applied for an extension of authorisation. The current proposal states that the derogation will be extended until the 31 of December 2021.
If you are concerned about how this update may effect your business, contact our VAT experts now!
We know that Indirect taxes such as VAT and GST can have a huge effect on your business. As VAT rates change sporadically keeping yourself informed can be difficult. Compliance is always crucial. That’s why our Indirect Tax Experts share their hand-picked news stories every day that you need to know. From breaking news to VAT changes and new EU legislation. We know that relevant information means better decision making. We aim to be your number 1 source for VAT and GST news.
+353 56 778 34 00 | firstname.lastname@example.org